Trustee’s Right To Intervene; First Mortgage Bonds. (a) In any judicial proceedings to which the Authority is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interests of the Bondholders, the Trustee may intervene on behalf of Bondholders and shall do so if requested in writing by the holders of at least 25% of the aggregate principal amount of Bonds then outstanding. The rights and obligations of the Trustee under this Section are subject to the approval of a court of competent jurisdiction.
Appears in 4 contracts
Samples: Loan and Trust Agreement (Tampa Electric Co), Loan and Trust Agreement (Tampa Electric Co), Loan and Trust Agreement (Tampa Electric Co)
Trustee’s Right To Intervene; First Mortgage Bonds. (a) In any judicial proceedings to which the Authority is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interests of the BondholdersBondowners, the Trustee may intervene on behalf of Bondholders Bondowners and shall do so if requested in writing by the holders of at least 25% of the aggregate principal amount of Bonds then outstanding. The rights and obligations of the Trustee under this Section are subject to the approval of a court of competent jurisdiction.then
Appears in 2 contracts
Samples: Loan and Trust Agreement (Tampa Electric Co), Loan and Trust Agreement (Teco Energy Inc)
Trustee’s Right To Intervene; First Mortgage Bonds. (a) In any judicial proceedings to which the Authority is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interests of the BondholdersBondowners, the Trustee may intervene on behalf of Bondholders Bondowners and shall do so if requested in writing by the holders of at least 25% of the aggregate principal amount of Bonds then outstanding. The rights and obligations of the Trustee under this Section section are subject to the approval of a court of competent jurisdiction.
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